Who can use this Letter of Intent?
Anyone who is negotiating a contract with a contractor and wants to get some work started before the contract is finalised.
What is a Letter of Intent (LoI) for?
The purpose of a letter of intent, usually, is to confirm to a successful tenderer that the contract will be awarded and to get the contractor to start some work up to a specified value before the formal contract is signed A LoI is not a substitute for a formal agreement but is for use as an interim measure conditional on the formal agreement being signed.
What are the main points for a letter of intent?
Formal contract Identify the contract being negotiated and the key terms. Sometimes the remaining issues are identified.
Interim work Identify the work to be performed under the LoI
Price include a maximum price for the LoI work
Conditions Make it clear the full contract award is conditional on that contract being signed by a certain date, otherwise the client can walk away.
For more information on each of these paragraphs, see our Explanatory Notes which you will receive when you download the document from our website.
When I download the document, can I change it and/or use it more than once?
Yes. You can buy it once and use it for any contractor you plan to appoint. All ContractStore’s templates are in MS Word. As well as filling in the details – names and addresses, scope of work etc., – you can issue it on your company letterhead as well as alter or add to it if you need some special terms.
For more information watch the video on this page of our website or see our FAQs
For information on signing documents see our Contract Signing page
ContractStore supplies templates and is not a law firm. But all our templates are written by experienced lawyers, in this case by a construction lawyer. So, we can arrange legal assistance for customers who need special terms in one of our documents or a bespoke template. For more information see our Legal Services page.
And if you want to contact us see our Contacts page
If you have any questions about a contract and/or want to see the Explanatory Notes before you buy, please let us know by using our contact form
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